30 Apr, EOD - Indian

SENSEX 80242.24 (-0.06)

Nifty 50 24334.2 (-0.01)

Nifty Bank 55087.15 (-0.55)

Nifty IT 35794.95 (-0.35)

Nifty Midcap 100 54124.9 (-0.85)

Nifty Next 50 64508.85 (-0.59)

Nifty Pharma 21772.45 (0.44)

Nifty Smallcap 100 16448.85 (-1.73)

30 Apr, EOD - Global

NIKKEI 225 36798.95 (0.95)

HANG SENG 22293.59 (0.79)

S&P 5677.25 (0.75)


Hot Pursuit News

You are Here : Home > News > Hot Pursuit News >

(29 Nov 2024, 12:20)

Sigachi Inds surges after arm submits CEP filing for Propafenone Hydrochloride to EDQM

Sigachi Industries jumped 8.13% to Rs 55.19 after the company’s subsidiary, Trimax Biosciences received a communication from European Directorate for the quality of medicines & health care (EDQM) for CEP filing of Propafenone Hydrochloride.


Achieving the Certificate of Suitability (CEP) for this API will enable the company to export this product in Europe and other CEP accepting countries.

Propafenone Hydrochloride, widely used in the treatment of cardiac arrhythmias, is a high demand API with a current global market size of $1.2 billion.

“The market is poised for robust growth, with projections reaching $ 2.1 billion by 2032, reflecting a CAGR of 7% over the forecast period. This growth is driven by the increasing prevalence of cardiovascular diseases, growing adoption of generic medications, and rising healthcare expenditure globally,” the company stated in regulatory filing.

Amit Raj Sinha, managing director and CEO of Sigachi Industries, said, “The submission of our first CEP filing is a testament to Trimax Biosciences’ commitment to quality, compliance, and innovation in the API domain. This achievement not only strengthens our position in the pharmaceutical supply chain but also aligns with our vision of providing reliable and sustainable pharmaceutical solutions on a global scale.”

Telangana based Sigachi Industries is engaged in manufacturing of microcrystalline cellulose (MCC), which is widely used in pharmaceutical, food, beverage, cosmetic and paint industry. The most common uses of MCC are in vitamin supplements and tablets. It also acts as a bulking agent in food production. MCC is produced from refined wood pulp which is imported by the company.

The company’s consolidated net profit jumped 43.8% to Rs 21.78 crore on 25.9% increase in net sales to Rs 124.90 crore in Q2 FY25 over Q2 FY24.

More News
More Company News View Company Information

Capital Market Publishers India Pvt. Ltd

401, Swastik Chambers, Sion Trombay Road, Chembur, Mumbai - 400 071, India.

Formed in 1986, Capital Market Publishers India Pvt Ltd pioneered corporate databases and stock market magazine in India. Today Capitaline corporate database cover more than 35,000 listed and unlisted Indian companies. Latest technologies and standards are constantly being adopted to keep the database user-friendly, comprehensive and up-to-date.

Over the years the scope of the databases has enlarged to cover economy, sectors, mutual funds, commodities and news. Many innovative online and offline applications of these databases have been developed to meet various common as well as customized requirements.

While all the leading institutional investors use Capitaline databases, Capital Market magazine gives access to the databases to individual investors through Corporate Scoreboard. Besides stock market and company-related articles, the magazine’s independent and insightful coverage includes mutual funds, taxation, commodities and personal finance.

Copyright @ Capital Market Publishers India Pvt.Ltd

Designed, Developed and maintained by CMOTS Infotech (ISO 9001:2015 Certified)

Site best viewed in Internet Explorer Edge ,   Google Chrome 115.0.5790.111 + ,   Mozilla Firefox 115.0.3 + ,   Opera 30.0+, Safari 16.4.1 +